Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.021%

Price spread now: Bybit against Extended+0.029%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$600.602% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.029%, 7d avg +0.002%

Together, before fees−0.062%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.026% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WIF-USD	0.2481	0.0104	pay 0.0013% / 1h	2m 59s	$12K	$181K	25x
Short	Bybit WIFUSDT	0.2482	0.0100	get 0.0050% / 4h	1h 02m	$16.7M	$47.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ExtendedbpFee BybitbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$0.84
Price spread: +0.029% → +0.002%: $2.62
Slippage, 4 orders: −$44.21
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.43
Costs to cover: 0.602%
Break-even: never at this rate

Slippage from Extended: live order book, 38 min ago; Bybit: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Extended live order book, 38 min ago	6.10 bp	17.7 bp −$18	117.6 bp −$1,176	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.01 bp	11.8 bp −$12	27.3 bp −$273	184.2 bp −$18.4K	doesn't fit

WIF on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−0.778%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2483	+0.069%	$976K	$939K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2490	+0.351%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2486	+0.190%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2493	+0.483%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0011%	1h	0.2482	+0.041%	$77K	$299K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0014% / S +0.0236%	1h	0.2485	+0.143%	$19K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2487	+0.234%	$143K	$703K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2489	+0.311%	$53K	$572K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2485	+0.170%	$8.6M	$6.5M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2485	+0.149%	$30K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2491	+0.398%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2483	+0.077%	$18.9M	$144.9M	75x	as long as short
Bybit WIFUSDTshort	+0.0100%	4h	0.2482	+0.029%	$16.7M	$47.6M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2481	−0.012%	$5.5M	$42.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2484	+0.109%	$1.2M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2485	+0.149%	$22.3M	$12.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2486	+0.190%	$4.4M	$16.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2483	+0.069%	$7.5M	$15.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2484	+0.109%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2502	+0.837%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2496	+0.585%	$286K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2500	+0.754%	$46K	$635K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2485	+0.149%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2483	+0.069%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2486	+0.178%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2484	+0.109%	$155K	$947K	75x	as long as short
Extended WIF-USDlong	+0.0104%	1h	0.2481	long leg	$12K	$181K	25x
Aevo WIF-PERP	+0.0104%	1h	0.2485	+0.163%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0343%	1h	0.2488	+0.263%	$645K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2492	+0.432%	$329K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2486	+0.173%	$0	—	15x	as long as short